SmartHubs Documentation

AuditFlow (Engagement Management)

Comprehensive guide to SmartHubs' audit engagement and project workflow solution.

Last updated: February 2026

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AuditFlow is designed for internal audit functions and audit firms that need to manage multiple concurrent audit engagements, track projects, and coordinate complex audit timelines.

What is AuditFlow?

AuditFlow is a project and engagement management solution specifically designed for audit teams. It helps organizations:

  • Manage multiple concurrent audit engagements
  • Plan and schedule audit fieldwork
  • Allocate audit resources across projects
  • Track project timelines and milestones
  • Coordinate team activities and deliverables
  • Monitor engagement profitability (for audit firms)
  • Manage stakeholder communication and approvals

Key Features

Engagement Planning & Setup

Create and configure audit engagements with clear scope and objectives.

  • Engagement templates for quick setup
  • Scope and objective definition
  • Client and stakeholder information
  • Budget and resource allocation
  • Fee structure and billing setup (for firms)
  • Regulatory and compliance requirements

Project & Task Management

Break engagements into phases, tasks, and activities.

  • Phased project structure (planning, execution, reporting)
  • Task creation and assignment
  • Subtask and dependency management
  • Checklist and procedure tracking
  • Task status and progress updates
  • Work product deliverable management

Resource Planning & Scheduling

Manage audit team resources across multiple engagements.

  • Resource capacity and availability
  • Team member allocation and scheduling
  • Skill-based resource assignment
  • Time tracking and timesheet management
  • Resource utilization reporting
  • Workload balancing and optimization

Timeline & Milestone Tracking

Manage engagement deadlines and key milestones.

  • Gantt chart and calendar views
  • Phase and activity scheduling
  • Dependency and critical path analysis
  • Deadline alerts and escalation
  • Progress tracking against plan
  • Schedule variance reporting

Team Collaboration & Communication

Facilitate collaboration and engagement communication.

  • Engagement discussion forums
  • Document and file sharing
  • Status update notifications
  • Client communication portal
  • Meeting coordination and notes
  • Issue and risk tracking

Engagement Profitability & Reporting

Monitor engagement execution and financial performance (particularly for audit firms).

  • Budget vs. actual tracking
  • Actual hours vs. planned hours
  • Billable hours tracking
  • Fee realization and margin analysis
  • Engagement profitability dashboard
  • Budget variance reporting

Engagement Lifecycle Phases

Phase 1: Engagement Planning & Scope

Activities:

  • Create engagement and define scope
  • Identify client contacts and stakeholders
  • Define engagement objectives
  • Develop project timeline and schedule
  • Allocate initial budget and resources
  • Establish approval and oversight structure

Typical Duration: 1-2 weeks

Phase 2: Project Preparation & Logistics

Activities:

  • Create detailed project schedule
  • Identify detailed audit procedures and tasks
  • Assign team members to engagement
  • Prepare fieldwork materials and tools
  • Conduct client kickoff meeting
  • Confirm logistics and access requirements
  • Establish communication protocols

Typical Duration: 1-3 weeks

Phase 3: Fieldwork Execution

Activities:

  • Execute audit tasks and procedures
  • Track time and progress
  • Complete work papers and documentation
  • Monitor team productivity and adherence to schedule
  • Manage changes and scope adjustments
  • Communicate status to client and leadership
  • Escalate issues and risks

Typical Duration: Varies (weeks to months)

Phase 4: Review & Reporting

Activities:

  • Consolidate audit findings and observations
  • Develop draft report and deliverables
  • Conduct quality review
  • Resolve client comments and issues
  • Finalize and distribute report
  • Close engagement and archive deliverables
  • Perform engagement lessons learned

Typical Duration: 2-4 weeks

Best Practices for AuditFlow

Realistic Planning

Develop detailed, realistic project plans with adequate contingency for unexpected issues.

Resource Visibility

Maintain visibility of team capacity and allocation across all concurrent engagements.

Proactive Communication

Communicate status regularly with clients and keep stakeholders informed of progress and changes.

Active Tracking

Monitor progress closely and address schedule or budget variances promptly.

Quality Focus

Balance schedule and budget pressures with maintaining quality audit work product.

Integration with MicroAudit

AuditFlow can work with MicroAudit to create a complete engagement management solution:

  • Project Linkage: Link AuditFlow engagements to MicroAudit audit instances
  • Procedure Alignment: Map AuditFlow tasks to MicroAudit audit procedures
  • Progress Synchronization: Track fieldwork progress in AuditFlow with audit execution in MicroAudit
  • Deliverable Management: Use AuditFlow for project management and MicroAudit for audit documentation
  • Integrated Reporting: Report on engagement delivery and audit execution

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